Quectel Wireless Solutions Co.,Ltd. Posted 136.8 Million Yuan Net Loss in First Quarter of 2023

Quectel Wireless Solutions Co.,Ltd. (上海移远通信技术股份有限公司) (603236.SH) reported a net loss of 136.8 million yuan in the first quarter of 2023, reversing a net profit of 123.8 million yuan for the same period in the previous year.

Meanwhile, the company posted 3.1 billion yuan in revenue, up 2.6% year-on-year.

At the end of the reporting period, it had 10.6 billion yuan in total assets and 7 billion yuan in total liabilities, with a liability-to-asset ratio of 66.2%.